Managers even at senior level are sometimes puzzled – whether they should commit, to undertake specific activities on environment. Dilemma is due to apparently conflicting notions they have. They may believe:
· The organization goal is earning profits hence expenses where returns are lower should not be undertaken
· Expenses incurred on environment do not bring good financial returns
ISO finalised and issued a standard ISO 14051 in 2011, enlightening to the business community as to how the cost accounting need to be done to understand the benefits of resources invested into environmental activities. ISO had involved International Federation of Accountants, IFAC (www.ifac.org) in development of this standard. The logical approach brought out clearly within the standard convinces even the finance-conscious-managers that providing resources for environmental activities is beneficial to them.
Here I am sharing with you one training course on ISO 14051:2011 (Material Flow Cost Accounting) that I conducted for one client. You may download for your benefit.